The collaborative robotics market will expand roughly tenfold between 2015 and 2020, soaring from $95m in 2015 to more than $1bn by 2020, according to a new study published by ABI Research.

The report – Collaborative Robotics: State of the Market / State of the Art – says that the growth will be fuelled by three key markets: small-to-medium manufacturers; electronics manufacturers and the companies that service them; and manufacturers wanting robotic systems that are optimised to support agile production.

According to Dan Kara, ABI’s practice director for robotics: “Collaborative robotic systems – such as ABB’s YuMi and Gomtec / Roberta platforms, Rethink Robotics’ Baxter and Sawyer, Universal Robots (Teradyne) UR family of robots, Kuka’s LBR iiwa and Kawada Industries’ Nextage – were developed in response to a number of pressing social drivers and businesses imperatives, and aided by ongoing technological innovation and dropping prices for powerful enabling technology.

By 2020, more than 40,000 collaborative robots will be shipped annually, according to ABISource: ABI Research

“The sector is very dynamic and is expanding rapidly with new product offerings being released into the market from both established companies and smaller, emerging firms,” he adds. “Larger firms are actively acquiring smaller companies with proven technology.”